Government funding of $15 million to support energy grid in managing renewable sources.
ARENA is providing funding to AEMO.
The federal government agency managing Australia’s renewable energy transition will allocate $15 million (US$9.8 million) to the Australian Energy Market Operator (AEMO).
This funding aims to support the energy grid in handling a higher proportion of renewables and decreasing dependence on fossil-fuel generators.
The Australian Renewable Energy Agency (ARENA) is working towards transitioning Australia to a predominantly renewable electricity system across both on-grid and off-grid locations.
On the other hand, AEMO is responsible for overseeing electricity and gas systems and markets nationwide to ensure residents have access to affordable, secure, and reliable energy.
Data from AEMO indicates that renewables now constitute a record-breaking 72.1 percent of the national energy market.
Darren Miller, Chief Executive Officer of ARENA, acknowledged the challenges that come with transitioning to a system powered by wind, solar, and storage, emphasizing the importance of being prepared to address these challenges.
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“ARENA is excited to collaborate with the market operator to advance this significant program of work, facilitating a grid increasingly powered by renewables.”
In response to the funding announcement, AEMO CEO Daniel Westerman stated that it will enhance the power system’s readiness for high renewable integration.
“The engineering roadmap aims to enhance operational capability for a high renewable power system, which is crucial as our aging coal generation fleet phases out,” he remarked.
“This will help optimize the use of available renewable resources, address future system security challenges, and lessen reliance on fossil-fuel generation.”
Different Approaches
The Albanese government is committed to achieving net zero emissions by 2050 and reducing emissions by 43 percent by 2030.
The Labor Party opposes nuclear energy and is striving to attain its objectives through 100 percent renewable energy with gas backup.
The proposed nuclear reactors by the Coalition would be situated at closed or planned-to-be-closed coal-fired power stations, including Liddell and Mount Piper in New South Wales, Loy Yang in Victoria, and Callide and Tarong in Queensland.
Additionally, small modular reactors are slated to be built at the Northern Power Station in South Australia and the Muja Power Station in Western Australia.
